topic Re: Any tips for a new AmEx member?? in Credit Cards

Any tips for a new AmEx member??

Anonymous — Fri, 16 Mar 2018 01:08:28 GMT

Hey there! I need a little help, as I am a recent Amex cardholder. So recent that I actually don't physically hold the card yet, haha. A couple days ago, I *randomly* applied for the Delta Skymiles Gold card and was *shockingly* approved for $1k. I have an Amex corporate card but I know that's very different. This approval is a huge step for me as I'm about a year in to rebuilding my credit - which took a terrible hit during my senior year of college.

I've read that Amex likes for members to PIF every month, but beyond that, I don't know much else of what the company looks for when you're trying to grow your relationship with them. I was looking for any tips anyone could give me, and other new Amex members about what the company "likes" - for instance - how much of your CL are they looking for you to spend and pay off each month? Do they mind you making a purchase and immediately paying it off multiple times a month or would they rather you pay it all off at once?

I'm hoping to at least get a 2x CLI in a couple months and just want to be sure that I'm doing all I can on my end to get there. Any wisdom anyone has to offer is appreciated! Thanks much

Re: Any tips for a new AmEx member??

RicHowe — Fri, 16 Mar 2018 19:41:56 GMT

Welcome to the AMEX family. You are entitled to request a 3X CLI in 61 days from account opening; which means you can increase that limit to 3k in 61 days. Afterward you are eligible for CLI every 6 months; so the next time you request you can increase to ~~18k~~ Edit: oops 9k.

AMEX has historically been for "transactor" consumers - those who swipe a lot, but pay in full. They still prefer this type of customer, but since they've gotten into the revolving game, that's not always true.

You can only make one payment on your card in the first 30 days thru your online account; however, you can always call a CSR and request that they make another payment for you. There is really no need to make multiple payments per month as long as you PIF by your due date or better yet, before your statement close in order to optimize your credit utilization reported to the CRAs.

You should not expect to see your card report until after your second statement closes - but again YMMV.

Now that you are a cardmember, in 90 days, you will start seeing pre-approvals online and any new card you apply for while logged in to your online account will be a soft-pull on your credit report. Typically Experian.

After a few statement cycles, you will see your FICO 8 Score thru your online account.

Again. Welcome to the AMEX clubhouse.

Re: Any tips for a new AmEx member??

Anonymous — Fri, 16 Mar 2018 01:39:12 GMT

@RicHowewrote:
Welcome to the AMEX family. You are entitled to request a 3X CLI in 61 days from account opening; which means you can increase that limit to 3k in 61 days. Afterward you are eligible for CLI every 6 months; so the next time you request you can increase to 18k.

AMEX has historically been for "transactor" consumers - those who swipe a lot, but pay in full. They still prefer this type of customer, but since they've gotten into the revolving game, that's not always true.

You can only make one payment on your card in the first 30 days thru your online account; however, you can always call a CSR and request that they make another payment for you. There is really no need to make multiple payments per month as long as you PIF by your due date or better yet, before your statement close in order to optimize your credit utilization reported to the CRAs.

You should not expect to see your card report until after your second statement closes - but again YMMV.

Now that you are a cardmember, in 90 days, you will start seeing pre-approvals online and any new card you apply for while logged in to your online account will be a soft-pull on your credit report. Typically Experian.

After a few statement cycles, you will see your FICO 8 Score thru your online account.

Again. Welcome to the AMEX clubhouse.

Wow, thanks so much! I especially needed to hear about only being allowed to make one payment your first month. Prior to this Amex and my Discover It I applied for on the same day, I only had sub prime cards with low limits and was in the habit of swiping, letting it post to the account, and immediately paying it off.

Would you recommend applying for another Amex once I start getting preapprovals, or just letting my Delta Skymiles grow to a certain point beforehand??

Re: Any tips for a new AmEx member??

MrDisco99 — Fri, 16 Mar 2018 01:32:59 GMT

Rarely have I seen so much new Amex essential knowledge included in one post. Nicely done, RicHowe!

Re: Any tips for a new AmEx member??

Gmood1 — Fri, 16 Mar 2018 01:33:35 GMT

Congrats on your approval!
My advice would be to use it as much as you like. And PIF before the due date, unless your utilization is high.
That's all you have to do.

Re: Any tips for a new AmEx member??

Anonymous — Fri, 16 Mar 2018 01:38:53 GMT

@Gmood1wrote:
Congrats on your approval!
My advice would be to use it as much as you like. And PIF before the due date, unless your utilization is high.
That's all you have to do.

Thanks! As you can see, I'm really looking forward to getting this card and growing with the company, ha.

Re: Any tips for a new AmEx member??

Anonymous — Fri, 16 Mar 2018 01:40:53 GMT

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Re: Any tips for a new AmEx member??

Anonymous — Fri, 16 Mar 2018 01:45:06 GMT

@Anonymouswrote:
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Re: Any tips for a new AmEx member??

Anonymous — Fri, 16 Mar 2018 01:45:35 GMT

What is your current Experian FICO score? Honestly I don't know that you're "entitled" to request a CLI after 60 days as stated elsewhere. You are certainly free to apply but given the relatively modest starting credit line its doubtful you'll get it. Your chances for a CLI are appreciably higher if you wait 181 days.

Re: Any tips for a new AmEx member??

Anonymous — Fri, 16 Mar 2018 01:52:50 GMT

@Anonymouswrote:
What is your current Experian FICO score? Honestly I don't know that you're "entitled" to request a CLI after 60 days as stated elsewhere. You are certainly free to apply but given the relatively modest starting credit line its doubtful you'll get it. Your chances for a CLI are appreciably higher if you wait 181 days.

I've yet to get actual FICO scores - all I have are Vantage 3.0 scores from CK which only show Equifax and TU FAKOs - 662 & 668 respectively. When I applied for an auto loan back in September of last year, it was 620. Since then, my student loans have gone into repayment and I've made those, my auto loan, and my other subprime card payments on time each month so I'm guess its a tad bit higher than 620, though I don't know for sure.

@Anonymous

Re: Any tips for a new AmEx member??

wasCB14 — Fri, 16 Mar 2018 01:55:46 GMT

Pay the bill...on time...preferably in full...and be patient.

Re: Any tips for a new AmEx member??

Gmood1 — Fri, 16 Mar 2018 02:02:20 GMT

@Anonymouswrote:
@Gmood1wrote:
Congrats on your approval!
My advice would be to use it as much as you like. And PIF before the due date, unless your utilization is high.
That's all you have to do.
Thanks! As you can see, I'm really looking forward to getting this card and growing with the company, ha.

I hear ya! I was the same way nearly 3 years ago when I became a member.

If you follow those simple rules of PIF monthly. I see no reason why your limit wouldn't grow with them. I just received my new Amex CC today. 😀

Go here and pull your fico 8 EX for free https://www.discover.com/free-credit-score/ .

Re: Any tips for a new AmEx member??

Anonymous — Fri, 16 Mar 2018 02:03:15 GMT

You can get your FICO 8 scores for all three credit bureaus for $1 through creditchecktotal.com. A trial subscription allows you to pull your scores twice; seven days apart. Just make sure to cancel your trial subscription within the specified period so you aren't hit with the higher monthly subscription cost. I'd certainly advise you to get access to your FICO 8 scores before applying for addtional credit or credit line increases.

Re: Any tips for a new AmEx member??

Anonymous — Fri, 16 Mar 2018 03:03:13 GMT

I wish I could tell you what Amex looks for as I have been a card member for 2 years and not only do I PIF every month because they won't increase my limit, I have to sometimes pay in full multiple times a day to make large purchases. The one good thing is I can spend $3000 in one day on my $1000 card because Amex will immediately apply your payment and increase your available credit.

I am having a love/hate relationship with AMEX right now, but I can't be too mad because they hold the key to one of my favorites for non-bonus spend - my SPG card.

Re: Any tips for a new AmEx member??

jl4 — Fri, 16 Mar 2018 03:48:16 GMT

Welcome to the club! I'm new, too by just a few more days (don't have my cards, yet, either). 🙈

Re: Any tips for a new AmEx member??

devastatah — Fri, 16 Mar 2018 03:50:03 GMT

They do like PIF. I would def try the 3x CLI at 61 days. As far as the first month I used my banks bill pay service to send my additional payments immediately everytime I made a purchase and turned on autopay min payments just to make sure I never missed a payment since you only got the 1 payment during the first 30 online. The Gold Delta to me is a good card even though I hate paying fees. I think it's the only card in my profile I pay an annual fee on.

Re: Any tips for a new AmEx member??

Anonymous — Fri, 16 Mar 2018 13:49:04 GMT

@Gmood1wrote:
@Anonymouswrote:
@Gmood1wrote:
Congrats on your approval!
My advice would be to use it as much as you like. And PIF before the due date, unless your utilization is high.
That's all you have to do.
Thanks! As you can see, I'm really looking forward to getting this card and growing with the company, ha.
I hear ya! I was the same way nearly 3 years ago when I became a member.
If you follow those simple rules of PIF monthly. I see no reason why your limit wouldn't grow with them. I just received my new Amex CC today. 😀
Go here and pull your fico 8 EX for free https://www.discover.com/free-credit-score/ .

Haha, nice!! Congrats. And thanks for the website! My FICO 8 is 661. I have a long way to go, but early 2017 I had a 505 so I'm pretty pumped about the growth.

Re: Any tips for a new AmEx member??

Anonymous — Fri, 16 Mar 2018 13:50:05 GMT

@Anonymouswrote:
You can get your FICO 8 scores for all three credit bureaus for $1 through creditchecktotal.com. A trial subscription allows you to pull your scores twice; seven days apart. Just make sure to cancel your trial subscription within the specified period so you aren't hit with the higher monthly subscription cost. I'd certainly advise you to get access to your FICO 8 scores before applying for addtional credit or credit line increases.

Thanks! I checked it on the Discover website provided in the thread about yours and its 661.

Re: Any tips for a new AmEx member??

Anonymous — Fri, 16 Mar 2018 13:53:01 GMT

@Anonymouswrote:
I wish I could tell you what Amex looks for as I have been a card member for 2 years and not only do I PIF every month because they won't increase my limit, I have to sometimes pay in full multiple times a day to make large purchases. The one good thing is I can spend $3000 in one day on my $1000 card because Amex will immediately apply your payment and increase your available credit.

I am having a love/hate relationship with AMEX right now, but I can't be too mad because they hold the key to one of my favorites for non-bonus spend - my SPG card.

Thanks! That is a good thing about their payment application process but that's unfortunate that they haven't increased your limit. I've read on another thread today that it's more difficult for the 1k CL to grow - hopefully they start to give us the CLI love too soon.

Re: Any tips for a new AmEx member??

Anonymous — Fri, 16 Mar 2018 13:54:59 GMT

@jl4wrote:
Welcome to the club! I'm new, too by just a few more days (don't have my cards, yet, either). 🙈

WOOHOOOOOO! Thanks, and congrats to you as well!!